rolled out detailed guidelines for infrastructure-REITS: (Sina)
(1) Focused regions: Bohai Rim, Xiong'an new area, Yangtze River Delta, GBA, Yangtze
River economic belt;
(2) Qualified areas: logistics warehouse, data center, & industrial park.
Relevant stocks to potentially benefit:
Vanke (logistics warehouse), & CMSK (industrial parks);
commercial mall, office & resi assets are NOT in the scope of infrastructure-REITS;
(4) W/ good operation track record in last 3yrs, + xpctd cash yld not lower than
4% nxt 3yrs
outstanding property loans by the end of June
↑13.1%YoY to Rmb47.4trn ($6.79trn). (Reuters)
Beike aims for $1b NYSE IPO. It’s a Chinese online property brokerage. (Mingtiandi)
Burberry opens 1st social retail
store in Shenzhen, China, claiming to blend physical
& social worlds w/ a suite of digital technologies powered by Chinese internet giant Tencent. (China Daily)
A-share property ETFs saw strong capital inflows
186.5% vs 4mths ago, triggered by relatively low valuation with solid fundamentals amid an overall neutral policy tone. I’d
flag COGO in HK still trading sub 3.5x PE.
Hainan: duty-free retail spending by tourists + 234% YoY in July
↑ annual tax-free shopping quota from Rmb30k to Rmb100k per person from 1 July.
More flexible admin procedures of land conversion in GBA
Nature Resources unveiled a notice to support some land conversion in
Guangdong 1) explore use of existing construction land for resi devt;
2) support a pilot project that converts
arable lands into construction lands in Shenzhen.
Cloud adds another 3 Hyper Data centers to its Cloud Computing Arsenal. In Hangzhou, Nantong & Ulanquab, utilize self-devpd, state-of-the-art servers
& artificial intelligence chips. (Yicai Global)
Country Garden Jul contract sales Rmb54.3b
(+27.5%YoY) w/ GFA 6.37m m2 (+33.4%YoY). (Co)
Jul contract sales Rmb9.55b (+43%YoY), Jan-Jul Rmb60.4b. (Co)
GZ R&F Jul contract sales Rmb10.7b
(+2%YoY), GFA 999,400m2 (+4%YoY), Jan-Jul Rmb61.8b w/ GFA 5.3m m2. (Co)
Evergrande unveils 6 EV car designs, no detail on production.
Evergrande reiterated its pledge to become the largest & most
powerful new energy automobile group in the world in 3-5yrs. (36KR)
1180 new homes sold in Jul,
↓26%MoM & the consecutive 2nd mth of
↓. Most (300 units) from CKA’s Sea To Sky. (HKET)
Jun home prices ↑ to 10-mth high as buyers defy coronavirus in search for safe haven assets. Jun’s
index of used homes ↑ 0.1%
to 386.1, according to Rating & Valn Dept. (SCMP)
Wharf 1H revenue HK$5.55b,
Interim Div HK 20 cents/sh, loss HK$1.74b vs profit HK$2.45b YoY,
underlying loss (excl IP revaln deficit) HK$1.13b vs profit HK$2.24b
Land puts 12 units in Aquila Square Mile, Mong Kok up for sale Fri, effective price HK$22,927-24,657/ft2.
Ferry / Empire launched 123 more units in Seacoast Royale, Tuen Mun, effective price HK$12,498-18,154/ft2. To be started
sales as soon as this wk. (HKET)
Group led by China Resources Capital Mgt reportedly close to buying a majority stake in City’super
valuing the high-end HK supermarket chain at almost US$300m. CR Capital
& co-investors reportedly plan to acquire 65% from owners led by The
Fenix Group. Former Wheelock
chairman Peter Woo, who owns ~39% of the grocery chain, intends to sell
down part of his stake.
Investor cut asking prices for the Center office floors (HK01)
in consortium that acq’d The Center from CKA 3yrs ago cut asking prices
by 30% (to HK$29k psf) to sell 3 of the floors he owns.
Carpark space at Ultima sold at HK$6.6mn, breaks record (HKET)
(developed by SHKP) in Homantin was transacted in the secondary market, a
new record price for residential car parks in HK.
Kabouter disposes Ascendas India Trust 3.46m units for S$4.8m,
interest ↓to 9.999% from 10.3%. (Co)
Ascendas Funds Mngt
transfers 90m Ascendas REIT units to Ascendas Land Int’l, as internal restructuring. AFM’s interest in Ascendas
REIT will be ↓to
0.15% from 2.64%. (Co)
CapitaLand: shrs issued by way of a transfer
of treasury shares pursuant to the Restricted Sh Plan 2020:
Chaly Mah Chee Kheong 23,426 shrs,
Anthony Lim Wen King 15,950 shrs,
Goh Swee Chen 14,375 shrs,
Ng Kee Choe 78,239 shrs,
Amirsham Bin A Aziz 24,097 shrs,
Stephen Lee Ching Yen 18,839 shrs,
Philip Nalliah Pillai 18,631 shrs,
Kee Teck Koon 19,340 shrs. (Co)
dwelling approvals for Jun ↓ 4.9% to 8yr low. (Perth Now)
Cromwell brought an application in Federal Court seeking
preliminary discov from ARA + Gordon Tang.
Cromwell reports positive outcomes from funds
mgmt biz in Australia, Poland & the Netherlands. Investors representing 90.1% of issued capital elected to continue w/ their
invsmt in DPF. (Co)
BWP Trust FY revenue beat highest analyst est. FY revenue
A$155.8m, ↓0.3%YoY. FY distributable profit A$117.5m,
FY net income A$210.6m, ↑24%YoY.
FY final distribution/shr A$0.0927 vs. A$0.0918 YoY. (Co)
Aeon Co’s stake in Aeon Mall
from 56.05%. (Kabutan)
GLP J-REIT sells logistics facility in Kobe for Y1.9bn ($17m).
owner to buy Marathon Petroleum’s Speedway gas stations for $21b, to be paid in cash + partly financed using debt. Will add ~3,900 stores to co’s existing
9,800 locations in US. (Co)
India GST Collections
↓14% to $12b
in July. (bbg)
Vista Land allots PHP25b for capex this yr,
90% for construction & land devt. (Phil Star)
SM Prime 1H net income Php10.4b,
Revenue Php43.7b. SM Prime Philippine malls' rent income ↓44%YoY
to Php13.1b. Resi revenue Php23.7b, ↑11%.
Commercial revenue +16% to Php2.5b. (Inquirer)
RE transactions in S.
Korea by foreign nationals hit 2,090 in Jun, highest mthly rate since 2015. (Korea Joongang Daily)
* My pa holdings: BAC US, 1 HK, 6 HK, ST SP